Quote of the Week – The Market is doing better because the beatings have stopped!
Gigot: Jason Furman Chairman of Obama’s Council of Economic Advisors said that you can’t get to 3% growth any more because of lower population growth and too many structural barriers.
Douglas Holtz-Eakin, former Director of the CBO: A lot of those structural barriers were erected by Jason Furman and his boss, Barack Obama.
Bada-Bing!
Gigot: Why is the stock market doing well if there’s uncertainty over Trump’s economic program?
Holtz-Eakin: The regulatory freezes really worked – Obama was cruising along at $3.2B a week in new regulatory costs(!) and now its ZERO. So people notice that – if you’re running a business, the beatings have stopped and people are happy about that.
Bada-Boom!!
Shorter: No-Bama = Economic growth. Heh!
A great discussion, and only 6 minutes – watch the whole thing.